Sotherly Hotels Inc. (SOHO) (the “Company”) announced that the Company will report financial results for the first quarter 2020 prior to the market opening on Wednesday, June 24, 2020. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company’s first quarter 2020 results. The information to be discussed on the call will be contained in the Company’s earnings release, which will be available via the Company’s website at www.sotherlyhotels.com in the Investors section under Financial Information.

Sotherly Hotels Inc. (SOHO) (the “Company”) today announced that it has undertaken additional actions at both the property and corporate levels to mitigate the financial impact of the COVID-19 pandemic, while at the same time has increased its focus on maintaining a clean and safe environment for its employees and guests. At the property-level, the Company and its hotel managers have implemented stringent cost control measures designed to minimize impact to profitability. While the Company’s wholly owned properties remain in operation in a limited-service capacity, the Company has suspended rental program operations at its two condominium properties: The Hyde Resort & Residences and The Hyde Beach House Resort & Residences.

Sotherly Hotels Inc. (SOHO) (the “Company”) today announced that it has implemented rigorous cost-savings measures to minimize the impact of revenue declines resulting from cancellations, corporate travel restrictions, and government mandated closures related to concerns surrounding COVID-19. The Company is working with its management partners to implement aggressive cost control measures at the property-level in order to minimize impact to profitability. Included in this policy, the Company is deferring all non-vital capital expenditures at its properties.

Airlines, hotels and cruise line operators that have relied on consumers and business professionals who have been spending freely on travel are again telling investors to prepare for a financial hit as the COVID-19 outbreaks in four European countries and in the U.S. have worsened.

Travel companies continued to say that the spread of COVID-19 was making financial forecasts untenable Monday afternoon, when a ski-resort company and two hotel real-estate investment trusts rescinded financial guidance. Vail Resorts Inc. shares took the biggest hit, as the owner of ski resorts in Colorado, California and other areas announced earnings and revenue that were lower than analysts expected and rescinded its annual guidance as it sees business declining. "In the week ended March 8, 2020, we saw a marked negative change in performance from the prior week, with destination skier visits modestly below expectations," Chief Executive Rob Katz said in a news release. "We expect this trend to continue and potentially worsen in upcoming weeks." Vail Resorts shares plunged more than 11% in after-hours trading. Hotel REITs Park Hotels and Resorts Inc. and Sotherly Hotels Inc. also rescinded guidance after the bell Monday, joining large hotelier Hyatt Hotels Corp. , which rescinded guidance last week. Large online travel company Booking Holdings Inc. also rescinded its annual guidance Monday afternoon, as travel companies struggle to deal with the spread of the novel coronavirus.

Sotherly Hotels Inc. (SOHO) (the “Company”) announced that the Company will report financial results for the fourth quarter 2019 prior to the market opening on Thursday, February 27, 2020. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company’s fourth quarter 2019 results. The information to be discussed on the call will be contained in the Company’s earnings release, which will be available via the Company’s website at www.sotherlyhotels.com in the Investors section under Financial Information.

Under the new structure, Company veteran Dave Folsom, President and Chief Operating Officer, will continue as President and will succeed Drew Sims as Chief Executive Officer of the Company, effective January 1, 2020. Mr. Sims will continue as Chairman of the Board of Directors as an employee of the Company and be responsible for advising the Company on strategic matters and major transactions, including acquisitions, dispositions, franchising and branding decisions, as well as capital market transactions.

We at Insider Monkey have gone over 752 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of September 30th. In this article, we look at what those funds think of Sotherly Hotels Inc (NASDAQ:SOHO) based on that […]

Sotherly Hotels Inc. (SOHO) (the “Company”) announced that the Company is postponing its earnings release and conference call date for the third quarter 2019 in order to complete the purchase price and fair value analysis related to its acquisition of the commercial unit within the Hyde Beach House Resort & Residences, which it acquired on September 26, 2019. The Company will report financial results for the third quarter 2019 prior to the market opening on Tuesday, November 12, 2019. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company’s third quarter 2019 results.

Sotherly Hotels Inc. (SOHO) (the “Company”) announced that the Company will report financial results for the third quarter 2019 prior to the market opening on Thursday, November 7, 2019. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company’s third quarter 2019 results. The information to be discussed on the call will be contained in the Company’s earnings release, which will be available via the Company’s website at www.sotherlyhotels.com in the Investors section under Financial Information.

Sotherly Hotels Inc. (SOHO) (the “Company”) today announced that the Company has acquired the hotel commercial unit of the Hyde Beach House Resort & Residences (the “Resort”) located in Hollywood, Florida for $5.35 million. In connection with the closing, the Company acquired the hotel commercial unit, which consists of the designated lobby and front desk area, offices, and other spaces. The Company also entered into a 20-year management agreement for the parking garage and poolside cabanas of the Resort, as well as an agreement to operate and manage the condominium association.